BYJU's lenders' panel moves SC to become party to GLAS Trust removal case
This story was originally published at 17:30 IST on 26 February 2026
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NEW DELHI – The committee of creditors of educational technology brand BYJU's parent company Think & Learn Pvt. Ltd. Thursday moved the Supreme Court to become a party to the proceedings initiated for the removal of financial creditor GLAS Trust Co. LLC. from the panel. On Tuesday, the Chennai bench of the National Company Law Appellate Tribunal had rejected committee of creditors' plea and observed that GLAS Trust may be keen to have the lenders' panel as its "cheer group" while it defends its case, but the law does not allow entry of a party into a matter unless its presence is necessary or at least proper for adjudicating an issue.
The distinction between the committee of creditors and the members who constitute it is defined clearly and preserved under the statutory scheme of the Insolvency and Bankruptcy Code, 2016, the appellate tribunal said. Therefore, anything that affects or threatens the individual right of a member of the committee cannot be construed as a threat to all the members of the committee, it said.
In 2024, the Bengaluru bench of the National Company Law Tribunal had admitted a petition by the Board of Control for Cricket in India to start insolvency proceedings against Think & Learn. Thereafter, Riju Ravindran, a suspended director of Think & Learn, filed an application before the Bengaluru tribunal seeking the removal of GLAS Trust from the committee of creditors of the debt-ridden company. The Bengaluru tribunal rejected the committee of creditors' plea to become a party to the matter. Following this, the committee of creditors had moved the appellate tribunal. End
Reported by Surya Tripathi
Edited by Akul Nishant Akhoury
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